Free Amortization Calculator
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How to Use This Amortization Calculator
Enter your loan amount, interest rate, loan term, and start date. Tap CALCULATE to instantly see your monthly payment, total interest paid, and a full year-by-year or month-by-month amortization schedule.
Switch between Yearly View and Monthly View to see as much or as little detail as you need.
What is a Loan Amortization Schedule?
An amortization schedule is a complete table of periodic loan payments showing the amount of principal and interest that make up each payment until the loan is paid off at the end of its term.
Early in the loan, the majority of each payment goes toward interest. Over time, the share going toward principal grows. This is why making extra payments early in a loan can dramatically reduce the total interest you pay.
Principal vs. Interest Over Time
On a typical 30-year mortgage at 6.5%, more than half of your total payments go toward interest — not the loan balance itself. For example, on a $240,000 loan, you'd pay well over $300,000 in total payments over 30 years.
Using this amortization table, you can see exactly when the principal portion of your payment begins to exceed the interest portion, and how an extra payment each year could cut years off your loan.